Newspaper article THE JOURNAL RECORD

Schlumberger Profits Drop 16 Percent

Newspaper article THE JOURNAL RECORD

Schlumberger Profits Drop 16 Percent

Article excerpt

NEW YORK _ A 16 percent decrease in net income to $136.6 million, or 56 cents per share, was reported Thursday for the third quarter of 1994 by Schlumberger Limited of New York.

Net income for the quarter was down from $162.66 million, or 67 cents per share, for the third quarter of 1993. Revenues for the quarter totaled $1.63 billion, down 0.3 percent from $1.64 billion.

Net income for the first nine months of the year totaled $381.49 million, or $1.57 per share, up 81 percent from $210.8 million, or 86 cents per share, for the first nine months of 1993. Net income for the first nine months of 1993 was $458.8 million before an extraordinary item reduced earnings by $248 million.

Revenues for the first nine months of 1994 totaled $4.92 billion, down 0.9 percent from $4.96 billion.

Schlumberger, which has operations in Oklahoma City, said revenues for the quarter reflect a 3 percent growth in Oilfield Services, which was offset by a 6 percent drop at Measurement Systems. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.